The Two Investing Tips That Wil Save You From Losing A lot of Money In the Process
1)Damaged Stocks Are Not the Bad Guy, Necessarily
There is an old wives tale that buying damaged stocks is going to cause you to lose some money in the long run. Time to set the record straight on that one. Buying damaged companies is the wrong way to go. Buying damaged stocks are okay as long as you buy the right ones.
In other words, you should not simply buy stock because the company is no good and it has to move. You can invest in stock as long as the problem they have is fixable. You should know that because you cannot return the investment once it is made. Look at the stock and whether or not it can be saved. Do not worry about the company so much.
2)Paying Your Taxes
Let me be clear: No one likes to pay taxes. You are going to have some gains that cannot be sustained over time. Some people believe that holding onto the stock without paying the taxes is going to warrant more money later. Not true. It is better to sell at a loss, pay the taxes, and get your money that way. Need help? Do A Google search for some tips on how to pay the taxes on your stocks online.
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